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Archived: Swindon Common Farm Solar CIC: Building a more sustainable future for Swindon

iCrowdNewswire - Feb 25, 2016

Invest in the UK’s first council solar bond – Swindon Common Farm Solar

A partnership between the Council and community to fund a 4.8MW ground-mounted solar farm near Swindon.

Swindon Common Farm Solar is part of Swindon Borough Council’s mission to develop a low-carbon economy. You can help them achieve their goals while earning a 6% IRR through a 20 year Fixed Return Debenture.

The solar farm will provide a long term income for the Council to help provide all the services you like to see as well as generating an annual payment for a defined community purpose.

Structured as a Community Interest Company, it supports the council’s work while sharing profits with the community. It also builds towards their aim of installing 200MW of renewable energy by 2020.

Bonus

There is also an additional Early Bird Bonus on this project of 0.5% on the amount invested for the first 5 years. This is open to anyone who invests on or before 11 April 2016.

How it works

Swindon Common Farm is a company owned and managed by Swindon Borough Council set up to operate a 4.8MW ground-mounted solar system at Common Farm, Wiltshire. Investor returns are made up mainly of Government Feed-in Tariff revenues for each kWh of electricity generated.

The environment

Swindon Common Farm is expected to generate enough electricity each year to supply the equivalent of 1,200 homes. The site itself will also become a biodiversity hotspot, with the land around the panels populated by grazing sheep for part of the year.

People living locally

People living in the local area will benefit in 3 ways from the new solar farm. Firstly, this offer allows residents to share in the financial benefits. Secondly, the CIC will contribute at least 0.85% of its revenues every year to the community purpose as well as at least 65% of its profits which are significant once the funding is repaid. Finally, the money earned by the Council will provide a stable income for the next 20 years, allowing them to plan and deliver the projects and services that are important to you.